Join The Community

Trade in question regarding downpayment

Hi all,

Been reading up a lot lately on this and other websites. I have a question regarding trading in a vehicle.

I recently ordered a Tesla and gave a $2500 deposit. I ordered an 85 kw model that came out a tad over $95,000. My trade in value is $92,000 that Im getting from their wholesaler working the trade.

My question is this... After the additional $8k from govt (where I live this goes directly to dealer and they deduct this from price) Ive basically paid for my car and they owe me about $7500 or so. I asked the guy to cut me a check of lets say 80k (they would be holding over $15k of my money as deposit still) and I would bring back the appropriate amount when my car is delivered.

Ive been told they don't give back ANY amount...? whats everyone else's experience? This just doesn't make sense that they would be holding the entire purchase price of the car and then some for over 2 1/2 months.

Please advise and thank you :)

Sounds like a scam to me. I'd say it is time to upgrade to a P85 so they have no excuse to keep any money.

No one has come across this when trading in a car?

It just doesn't make sense...

The federal tax credit doesn't go to the dealer.... are you in the US? You get that off your taxes the following year when you file.

Why would they give you money, $80k, before you get the car? Are you turning in the old car early?

Who is "they", "their"? Tesla? Dealer? Wholesaler? third party?

When you say "Trade in value" does that mean you're trying to trade in your Tesla for another car?

I'm missing part of the story, so I am evidently confused.

Tesla doesn't use Dealers, so "dealer" confuses me.

If you think "they" owe you 7500 for the tax deduction, that actually comes out of your taxes, and you file for that benefit when you do your taxes.

Also your math doesn't make sense. Your trade in is worth $92,000, your MS cost $95,000. That means you owe $3K at the time of delivery. Any tax incentives will either come to you when you file your taxes for this year, or upon delivery. No government is going to give money before you actually take delivery (buy) a car that entitles you to the incentive.

So if you owe $3K at time of delivery, and your government is kicking in $8K, then if anything, you would be owed $5K. As others have said, you didn't state where you live, but I am going to hazard a guess that the $8k is meant to offset what one owes not to be a refund.

Just like the $7500 tax break by the IRS. One gets the $7500 if they in fact have a tax liability of at least $7500. If you owe $4K, then you get $4K and in net effect, owe no taxes.

Im from Canada ... The 8k rebate is given directly to dealership here in Quebec. Was about to get a Volt and keep one of my cars (2013 M3) but none were in stock so rest is history...

Yes Im trading in my cars next week (tuesday) so they will have been paid the 92k from the wholesaler Tesla uses for trade ins. I won't be having my Tesla before late september so they are essentially paid for the entire car 2 months before I receive my car...

It likely would have been more profitable for you to sell the cars directly instead of relying on the wholesaler. It may have taken longer, and been more of a hassle, but then you would get all of the money, and not the wholesaler/dealer.

You may have befuddled them with am unusual deal.... be sure this is cleared up before you sign over title.

X Deutschland Site Besuchen